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"Isn't $LMND just another insurtech?"
This chart can lay that argument to rest.
Customers per employee, 2020–2025:
$LMND vs. $ROOT vs. 7 major incumbents.
$ROOT is the perfect test case. Same era. Same "insurtech" label. Same direct-to-consumer P&C model. Public company with clean data.
$ROOT at 457 customers per employee.
GEICO at 568.
Progressive at 514.
Root IS the incumbent band.
Why? $ROOT innovation was telematics — better pricing through driving data. That helped them reach profitability. But it didn't change how many humans they need to operate.
Root hired 341 people last year to add 73K policies. $LMND hired 47 to add 570K.
That's not a difference of degree. It's a difference of kind.
$LMND didn't just digitize the front end. AI Maya underwrites. AI Jim handles claims. The marginal customer costs almost nothing to serve.
$ROOT used tech to price better. $LMND used AI to run the company.
That's why one curve compounds and the other flatlines.
This also kills the bear argument that competitors will "just copy $LMND playbook."
$ROOT has been trying for 9 years. Backed by $1.2B+ in funding. Public since 2020. Building technology from scratch with no legacy constraints.
And they still ended up in the incumbent band.
If a well-funded, tech-native insurtech with zero legacy baggage can't replicate this efficiency curve, what makes anyone think State Farm or Allstate will?
$LMND AI-first architecture isn't a feature. It's a compound advantage that gets harder to replicate every quarter — because every new customer, claim, and interaction feeds the models that make the next one cheaper to serve.
The moat isn’t JUST the AI operating system running the company. It’s 3 million customers (and growing) training the AI.
$DUOL Goldman Sachs kept its Neutral rating on Duolingo and raised its price target from $114 to $135. The note says the focus heading into Q3 is shifting from user growth to turning stronger engagement into bookings, after 23% year-over-year DAU growth and record retention in Q2.
tipranks.com/news/the-fly/du…
$NAUT reports Q3 tomorrow (Oct 27) before the open.
Nautilus is building an instrument that measures proteins one molecule at a time, aiming for detail today's tools can't capture.
What I'm watching:
1. Cash and burn: $129.2M at June 30, about $14.2M used in Q2, runway into Q1 2028 per Q2 call
2. Broadscale: timeline pulled in Q2, update promised
3. Early traction: first revenue in Q2 ($190K), AKT1 cancer assay due in Early Access late 2026
Longer term: Voyager instrument pre-orders in early 2027, shipments mid-2027.
investors.nautilus.bio/news-…
$HIMS is at historically low P/S while its revenue is reaccelerating and moat is quietly expanding.
$NAUT is a great case study how AI can get stuff wrong.
At the bottom of its move AI told me it was too risky to add to.
I added anyways fortunately.
I don’t understand it that deeply. But the insider ownership and it being essentially free because it’s cash was as high as its market cap made me pull the trigger.
But more so the heavy insider ownership from obviously competent folks.
Another great call here by me. $QS turned out to be garbage.
Just wanted to point out a person throwing stones from a glass house.
@JKeynesAlpha
$QS @JKeynesAlpha
Says the guy shilling multibillion dollar pre revenue companies with massive insider selling.
This turned out to be a great post about $NAUT
Elon on $TSLA robotaxi’s future dominance:
"Unless we're stopped by governments, which is certainly a possibility, like if they're trying to protect a domestic industry, I think Tesla will end up doing a majority of all passenger miles on Earth in any country where it is allowed to operate freely. And you can come back and look at this prediction, but I feel confident about this prediction."
$SPCX
The price target raises are just beginning.
$SPCX - JPMORGAN DOUBLES SPACEX PRICE TARGET TO $500
JPMorgan raised its SpaceX price target from $240 to $500, maintaining an Overweight rating.
The bank now forecasts $254 billion in 2027 revenue and 10 GW of computing capacity by year-end, more than doubling its 2027–2028 estimates.
JPMorgan also sees strategic merit in a potential SpaceX–Tesla merger, though no deal is guaranteed.
Elon on $SPCX advantage in AI data centers:
"So that means that we can bring power online 12 to 18 months faster than anyone else."
monero:native is the only crypto that has stayed true to the original cypherpunk ethos.
And it’s beginning to payoff for investors.
It is the only crypto that is consistently used as money as well.
In Jan 2024, after its first major drawdown, $WIF was worth $68M, just 0.16% of $SOL’s market cap.
It went on to reach $4.6B, a 68x, or 5.25% of $SOL’s market cap.
Today, $ZCAT is 0.25% of $ZEC’s market cap.
If we’re early in a new $BTC bull cycle, the similarities are intriguing, especially with Ansem championing both.
Not a prediction, but an interesting historical precedent.
I’m trading these emerging memecoin narratives on FOMO.
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$SPCX is the best positioned Neocloud while also having an incredible business seperate from that with possibly the widest moat of any company.
I’ve tried a few and no language learning app is as engaging and fun as $DUOL.
It is great to return to for 5 to 10 minutes every day and slowly but surely learn your chosen language.